1701 Military Trail Suite 110 Jupiter, Florida 33458-7887 PH: 561-427-6401 FX: 561-427-6191 www.fttinc.com FOR IMMEDIATE RELEASE Contact: Dr. Susan Cunningham Director, Marketing and Business Development Florida Turbine Technologies, Inc. 1701 Military Trail Suite 110 Jupiter, Florida 33458-7887 561-427-6331 or email@example.com FTT FILES 300th PATENT APPLICATION JUPITER, FLORIDA, June 17th 2008. Florida Turbine Technologies, Inc. (FTT) has filed its 300th Patent Application – a signal that the company is remaining true to their corporate strategy of continuous innovation in the turbomachinery industry. The 300th patent applied for by FTT involves an innovative idea to “stack” high-speed electric generators in a specific way that could be used with turbine engines to create more power at a lower cost. FTT’s 300th patent application is certainly quite an achievement, especially when one considers the fact that the company has fewer than 200 employees – this means that, on average, the company produces about 1.5 patent applications per employee. This ratio can only be termed exceptional and is evidenced by the fact that other companies normally associated with invention and innovation produce a far lower number of patents per employee (approximately 10 times less). Why so much focus on developing patents? FTT’s philosophy is that patents are good for everybody. “The turbomachinery industry benefits from the introduction of cutting-edge technology and creative ideas, while the company benefits from the protection afforded by patenting inventions that the company invested in developing,” says company president Joe Brostmeyer. FTT fosters an environment conducive to innovative ideas and has streamlined a normally tedious process for getting these ideas out into the marketplace. Filing a patent application in a larger corporation may take several years from the time a concept is developed until the Patent Examiner responds to the application, whereas FTT can complete the same process in as little as a day. In addition, FTT provides an employee incentive program to encourage their employees to work on patenting new ideas – with an added bonus for patents that are ultimately awarded to the company. To date, the USPTO has issued or has approved a total of 17 patents submitted by FTT. A promising example is Patent Number 7080971 for a “Cooled Turbine Spar Shell Blade Construction.” The Department of Energy (DOE) is funding further development of this Patent Awarded technology that they are calling a “revolution” in the gas turbine industry, because this to FTT invention could possibly reduce CO2 emissions by 25 million tons and save 84 million barrels of oil per year. Due to the tremendous volume of applications the USPTO receives, patent applications take an average of almost three years to be reviewed. Assuming a conservative estimate for the number of applications that will be awarded, FTT will rank in the top 200 organizations worldwide granted U.S. Patents every year and among the top five in the gas turbine industry. About FTT Florida Turbine Technologies, Inc. (http://www.fttinc.com) specializes in design, development, manufacture, and test of components and systems for aircraft engines, space propulsion, and industrial gas turbines. FTT was established in 1998, operates two engineering and test facilities in Jupiter, employs over 170, and is dedicated to preserving high technology jobs and gas turbine engineering excellence in Palm Beach County, Florida. In 2006, FTT was honored by Governor Jeb Bush at the Governor's Business Diversification Awards by receiving the Business Expansion Award in the Mega Market category (county population greater than 750,000). FTT was chosen “based on its demonstrated ingenuity, civic leadership, and significant contribution to strengthening and diversifying Florida’s economy.” FLORIDA TURBINE TECHNOLOGIES, INC.
Pages to are hidden for
"FTT FILES 300th PATENT APPLICATION"Please download to view full document